Lates News

HSAI.US rose more than 2% to $28.57 in pre-market trading. On the news side, HSAI announced last night on the Hong Kong Stock Exchange that the final offer price for the international offering and Hong Kong public offering has been set at HK$212.8 per share. The Company has exercised the over-allotment option and will issue and allocate an additional 2,550,000 shares at the offer price, representing 15% of the total number of shares offered for subscription under the global offering. The Company expects to raise a total of HK$4.1624 billion from the global offering (before underwriting fees and offering expenses). The Company plans to use the net proceeds from the global offering for the following purposes: approximately 50% for research and development investments; approximately 35% for production capacity investments; approximately 5% for business development; and approximately 10% for working capital and general corporate purposes.